Alpha Bank AE -- Moody's changes outlook on Greece's banking system to stable from negative

Limassol, April 29, 2014 -- The outlook for the Greek banking system has been changed to stable from negative, reflecting expectations of a return to growth of the domestic economy in 2014-15 after six years of contraction. The gradual economic recovery, coupled with Greek banks' recapitalisations and regained access to inter-bank and international capital markets, will further ease funding pressures and lead to a gradual recovery of pre-provision profitability in 2015. In addition, the outlook also takes into account the expected deterioration in asset quality and capital metrics in 2014, although at a much reduced pace than before, says Moody's Investors Service in a new report published today.

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